Main Subject - Internet and Businesses Online

A sales funnel is a tool that can provide you with an indication of how

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

well your sales system is operating at any given time.

Imagine a funn

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

el, wide at the top and narrow at the bottom. You put your new leads i

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

nto the top of the funnel, and they are progressively passed through th

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

various parts of your sales procedure until the sale is closed and pay

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

ment is received at the bottom. Out of the bottom pops the completed s

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

ales. Alternatively, the bottom result could be customers who are comp

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

letely attuned to your niche and ready to purchase your highest priced

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

roducts.

Naturally, since it is a funnel, a lot more goes into the top

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

than comes out of the bottom. Between the two are procedures of quota

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

tions, information, free samples, low priced sales, etc., that make up

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

the total process of converting an initial lead or enquiry into a compl

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

ted high value sale. Obviously the number of closed sales is less than

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

the number of leads, and the number that goes into the top gets less a

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

nd less as they pass down the funnel.

This can be used as a sales tool

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

to determine the effectiveness of each part of the process. Each part

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

of the funnel should be clearly defined with criteria that can provide

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

certain information about each lead at that stage. At each level, lead

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

s should become progressively more qualified, and the level of qualific

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

ation at each stage should be known.

More about sales funnel in part I

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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There it is. The event you’ve been waiting for. It's all the big name speakers you've been drooling over, it’s in a city you've been dying to visit and it's just the perfect information you need right now to take your business to the next level.

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Main Subject - Why You Need a Sales Funnel Part I

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